How Do Influencers Make Money?

How Do Influencers Make Money?

Influencers have the talent to affect or encourage their audience to buy a particular product or do a sure thing. Since the last few decades, many have chosen this as their profession, and they make a generous amount of money through it. Most influencers use social media as their platform of interaction, e.g., Instagram, Facebook, YouTube, etc.

Why are influencers important?

Influencers inspire and spread awareness among the audience about a brand, activity, etc. They keep their followers entertained. Moreover, they introduce us to the latest trends. 
Here are some ways through which influencers can make money on various platforms-

Brand ambassadors
You need to tie a relationship with a brand to become their brand ambassador. The brand will pay you for promoting their merchandise to a larger spectrum of audience thus, increasing their sale. You might also need to shoot photos and videos for their official website/social media account. You ought to sign a contract for a particular period.
Sponsored content
This is the most common way adapted by the influencers to make money. A company pays the influencers for every post they make on any social media platform. Having a large follower base helps the influencer immensely to earn a more significant sum of money. 
Advertising on websites
This is highly effective for bloggers with a high traffic rate. Every time a reader visits the blogger’s website and clicks on an ad, the blogger gets paid.
Most of us use YouTube as a source of entertainment or knowledge. YouTube pays a considerable amount of money to people who make original and attractive content. The revenue would be based on the number of advertisements on your video once your channel gets monetized.
Affiliate Marketing
A company again hires an influencer, and the latter expects them to increase their sales through recommending their website link. The influencer is expected to add the client’s website, and every time a person purchases something through that link, the influencer is paid by the company.
Digital courses
Whichever field the influencer specializes in, they can monetize it. Suppose you are a dancer so that you can arrange for paid online dancing classes. If you are a cook, you can sell an eBook of your recipes; if you are a fitness expert, you can train people through social media interactive sessions, etc.
 Selling individual merchandise
If you are willing to start a business through social media, there is vast scope. You have to promote your products to your followers and convince them to purchase them.
Donations or tips
Some social media platforms like YouTube, Twitch, etc., allow the viewers to gift some money to the influencer through a live stream.
Entertainment apps
Apps like Tiktok, Roposo, etc., pay the influencer based on their posts, consistency, and views gathered by the audience. Influencers who are regular on these platforms might earn a generous amount through their skills or talents. 
How much money can an influencer make?

It depends upon your exposure and fame; if you got a huge follower base, your annual income would also be pretty high. According to a survey, on average, an influencer makes up to 2-3 lakhs a month.

As a beginner, you need to gather a decent number of followers or increase your website’s traffic to gain the attention of different brands/ companies. 

Some renowned social media influencers

PewDiePie- Youtuber
Huda Kattan—Makeup artist
Lily Singh- Comedian
Addison Rae- TikToker
Nike- Shoe brand